Tuesday, August 10, 2010

20100810 1205 Global Market News.

Dollar up, stocks slip on caution before Fed
HONG KONG, Aug 10 (Reuters) - The U.S. dollar clawed higher against the euro and Asian stocks slipped on Tuesday, as investors braced for the outcome of a Federal Reserve meeting that could disappoint some looking for big policy changes.
"Over the past one week or so, there has been increasing chatter that the tone of today's Fed meeting could potentially deviate from the seemingly unexciting post-meeting announcements lately," said Thomas Lam, group chief economist with DMG & Partners Securities in Singapore. 

GLOBAL MARKETS: Stocks, dollar advance before Fed meeting
NEW YORK, Aug 9 (Reuters) - Global stocks rose and the dollar edged higher on Monday on growing expectations the U.S.Federal Reserve will signal this week it is ready to renew its stimulus efforts to prop up a weakening U.S. economy.
"We're expecting the Fed to officially lay the groundwork for a policy change predicated on another month of economic data," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

World stocks near 3-month peak as Fed looms
LONDON, Aug 9 (Reuters) - World stocks edged up towards last week's three-month peak while the dollar held near a 15-year low versus the yen on rising expectations the Federal Reserve could soon buy bonds to support the economy.
"A downgrading of its economic and inflation assessment may be considered a potential precursor to renewed action in coming months should things not start to improve," said Tom Levinson, currency strategist at ING.

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